Nokia on Thursday suffered one of its larger blows in recent years with word of especially poor results during its summer quarter. The company posted a net loss equivalent to $1.36 billion between July and September and almost completely reversed a $1.58 billion profit from a year earlier. Much of the blame was placed directly on a deep, 19.6 percent plunge in its revenue from phone sales compared to a year earlier, even though the number was a slight 5 per cent gain versus the spring.
